{"id":"https://openalex.org/W4414948482","doi":"https://doi.org/10.24912/ijaeb.v3i3.1522-1530","title":"THE EFFECT OF LIQUIDITY, SOLVENCY, ACTIVITY, AND PROFITABILITY ON FINANCIAL PERFORMANCE OF MANUFACTURING COMPANIES","display_name":"THE EFFECT OF LIQUIDITY, SOLVENCY, ACTIVITY, AND PROFITABILITY ON FINANCIAL PERFORMANCE OF MANUFACTURING COMPANIES","publication_year":2025,"publication_date":"2025-08-31","ids":{"openalex":"https://openalex.org/W4414948482","doi":"https://doi.org/10.24912/ijaeb.v3i3.1522-1530"},"language":"en","primary_location":{"id":"doi:10.24912/ijaeb.v3i3.1522-1530","doi":"https://doi.org/10.24912/ijaeb.v3i3.1522-1530","is_oa":true,"landing_page_url":"https://doi.org/10.24912/ijaeb.v3i3.1522-1530","pdf_url":"https://journal.untar.ac.id/index.php/ijaeb/article/download/35459/21464","source":{"id":"https://openalex.org/S4387291330","display_name":"International Journal of Application on Economics and Business","issn_l":"2987-1972","issn":["2987-1972"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/P4310315070","host_organization_name":"Tarumanagara University","host_organization_lineage":["https://openalex.org/P4310315070"],"host_organization_lineage_names":["Tarumanagara University"],"type":"journal"},"license":"cc-by-nc-sa","license_id":"https://openalex.org/licenses/cc-by-nc-sa","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"International Journal of Application on Economics and Business","raw_type":"journal-article"},"volume":null,"type":"article","is_traditional":true,"indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"diamond","oa_url":"https://journal.untar.ac.id/index.php/ijaeb/article/download/35459/21464","any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5119898441","display_name":"Kensa Kensa","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I1102219","display_name":"Tarumanagara University","ror":"https://ror.org/04r0rbk24","country_code":"ID","type":"education","lineage":["https://openalex.org/I1102219"]}],"countries":["ID"],"is_corresponding":false,"raw_author_name":"Kensa Kensa","raw_affiliation_strings":["Faculty of Economics and Business, Universitas Tarumanagara, Jakarta, Indonesia"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Faculty of Economics and Business, Universitas Tarumanagara, Jakarta, Indonesia","institution_ids":["https://openalex.org/I1102219"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5041273161","display_name":"Agustin Ekadjaja","orcid":"https://orcid.org/0000-0001-9345-6098","observed_orcids":["https://orcid.org/0000-0001-9345-6098"]},"institutions":[{"id":"https://openalex.org/I1102219","display_name":"Tarumanagara University","ror":"https://ror.org/04r0rbk24","country_code":"ID","type":"education","lineage":["https://openalex.org/I1102219"]}],"countries":["ID"],"is_corresponding":false,"raw_author_name":"Agustin Ekadjaja","raw_affiliation_strings":["Faculty of Economics and Business, Universitas Tarumanagara, Jakarta, Indonesia"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Faculty of Economics and Business, Universitas Tarumanagara, Jakarta, Indonesia","institution_ids":["https://openalex.org/I1102219"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":[],"corresponding_institution_ids":["https://openalex.org/I1102219"],"apc_list":null,"apc_paid":null,"fwci":2.9951,"has_fulltext":true,"cited_by_count":3,"citation_normalized_percentile":{"value":0.89170265,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":96,"max":97},"biblio":{"volume":"3","issue":"3","first_page":"1522","last_page":"1530"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T12123","display_name":"Financial Analysis and Corporate Governance","score":0.9746000170707703,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T12123","display_name":"Financial Analysis and Corporate Governance","score":0.9746000170707703,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12544","display_name":"Working Capital and Financial Performance","score":0.013100000098347664,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T13957","display_name":"Corporate Governance and Financial Management","score":0.003100000089034438,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/liquidity","display_name":"liquidity","score":0.7620000243186951},{"id":"https://openalex.org/keywords/solvency","display_name":"solvency","score":1.0},{"id":"https://openalex.org/keywords/activity","display_name":"activity","score":0.4580000042915344},{"id":"https://openalex.org/keywords/profitability","display_name":"profitability","score":0.9990000128746033},{"id":"https://openalex.org/keywords/financial-performance","display_name":"financial performance","score":0.9950000047683716},{"id":"https://openalex.org/keywords/return-on-assets","display_name":"return on assets","score":0.9390000104904175},{"id":"https://openalex.org/keywords/manufacturing-firms","display_name":"manufacturing companies","score":0.8259999752044678},{"id":"https://openalex.org/keywords/consumer-non-cyclical-sector","display_name":"consumer non-cyclical sector","score":0.9309999942779541},{"id":"https://openalex.org/keywords/indonesia-stock-exchange","display_name":"Indonesia Stock Exchange","score":0.8029999732971191},{"id":"https://openalex.org/keywords/financial-ratios","display_name":"financial ratios","score":0.5929999947547913}],"concepts":[{"id":"https://openalex.org/C129361004","wikidata":"https://www.wikidata.org/wiki/Q2470236","display_name":"Profitability index","level":2,"score":0.7343999743461609},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.6532999873161316},{"id":"https://openalex.org/C2778215004","wikidata":"https://www.wikidata.org/wiki/Q1137437","display_name":"Solvency","level":3,"score":0.6092000007629395},{"id":"https://openalex.org/C200870193","wikidata":"https://www.wikidata.org/wiki/Q11691","display_name":"Stock exchange","level":2,"score":0.5906999707221985},{"id":"https://openalex.org/C98014903","wikidata":"https://www.wikidata.org/wiki/Q832161","display_name":"Financial ratio","level":2,"score":0.5884000062942505},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.5799999833106995},{"id":"https://openalex.org/C185669311","wikidata":"https://www.wikidata.org/wiki/Q1163221","display_name":"Return on assets","level":3,"score":0.47870001196861267},{"id":"https://openalex.org/C183582576","wikidata":"https://www.wikidata.org/wiki/Q184783","display_name":"Market liquidity","level":2,"score":0.4771000146865845},{"id":"https://openalex.org/C2781027943","wikidata":"https://www.wikidata.org/wiki/Q192907","display_name":"Financial statement","level":3,"score":0.4514000117778778},{"id":"https://openalex.org/C130731218","wikidata":"https://www.wikidata.org/wiki/Q1363554","display_name":"Financial analysis","level":2,"score":0.4406999945640564},{"id":"https://openalex.org/C2778348171","wikidata":"https://www.wikidata.org/wiki/Q167037","display_name":"Corporation","level":2,"score":0.40950000286102295},{"id":"https://openalex.org/C100363876","wikidata":"https://www.wikidata.org/wiki/Q690661","display_name":"Nonprobability sampling","level":3,"score":0.36899998784065247},{"id":"https://openalex.org/C6422946","wikidata":"https://www.wikidata.org/wiki/Q857354","display_name":"Panel data","level":2,"score":0.33880001306533813},{"id":"https://openalex.org/C73283319","wikidata":"https://www.wikidata.org/wiki/Q1416617","display_name":"Financial system","level":1,"score":0.3174999952316284},{"id":"https://openalex.org/C91306197","wikidata":"https://www.wikidata.org/wiki/Q45767","display_name":"Competition (biology)","level":2,"score":0.31540000438690186},{"id":"https://openalex.org/C112896921","wikidata":"https://www.wikidata.org/wiki/Q1728600","display_name":"Asset turnover","level":4,"score":0.30630001425743103},{"id":"https://openalex.org/C506796395","wikidata":"https://www.wikidata.org/wiki/Q4738155","display_name":"Financial management","level":2,"score":0.3043000102043152},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.30410000681877136},{"id":"https://openalex.org/C154600224","wikidata":"https://www.wikidata.org/wiki/Q5449728","display_name":"Financial market efficiency","level":3,"score":0.29649999737739563},{"id":"https://openalex.org/C152877465","wikidata":"https://www.wikidata.org/wiki/Q208042","display_name":"Regression analysis","level":2,"score":0.2953999936580658},{"id":"https://openalex.org/C198531522","wikidata":"https://www.wikidata.org/wiki/Q485146","display_name":"Sample (material)","level":2,"score":0.28119999170303345},{"id":"https://openalex.org/C71199308","wikidata":"https://www.wikidata.org/wiki/Q2990807","display_name":"Accounting management","level":3,"score":0.275299996137619},{"id":"https://openalex.org/C25070020","wikidata":"https://www.wikidata.org/wiki/Q426971","display_name":"Economic Value Added","level":3,"score":0.2727000117301941},{"id":"https://openalex.org/C44970651","wikidata":"https://www.wikidata.org/wiki/Q17014030","display_name":"Fixed effects model","level":3,"score":0.2685999870300293},{"id":"https://openalex.org/C65146658","wikidata":"https://www.wikidata.org/wiki/Q1416431","display_name":"Financial intermediary","level":2,"score":0.26600000262260437},{"id":"https://openalex.org/C204036174","wikidata":"https://www.wikidata.org/wiki/Q909380","display_name":"Stock (firearms)","level":2,"score":0.25200000405311584}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.24912/ijaeb.v3i3.1522-1530","doi":"https://doi.org/10.24912/ijaeb.v3i3.1522-1530","is_oa":true,"landing_page_url":"https://doi.org/10.24912/ijaeb.v3i3.1522-1530","pdf_url":"https://journal.untar.ac.id/index.php/ijaeb/article/download/35459/21464","source":{"id":"https://openalex.org/S4387291330","display_name":"International Journal of Application on Economics and Business","issn_l":"2987-1972","issn":["2987-1972"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/P4310315070","host_organization_name":"Tarumanagara University","host_organization_lineage":["https://openalex.org/P4310315070"],"host_organization_lineage_names":["Tarumanagara University"],"type":"journal"},"license":"cc-by-nc-sa","license_id":"https://openalex.org/licenses/cc-by-nc-sa","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"International Journal of Application on Economics and Business","raw_type":"journal-article"}],"best_oa_location":{"id":"doi:10.24912/ijaeb.v3i3.1522-1530","doi":"https://doi.org/10.24912/ijaeb.v3i3.1522-1530","is_oa":true,"landing_page_url":"https://doi.org/10.24912/ijaeb.v3i3.1522-1530","pdf_url":"https://journal.untar.ac.id/index.php/ijaeb/article/download/35459/21464","source":{"id":"https://openalex.org/S4387291330","display_name":"International Journal of Application on Economics and Business","issn_l":"2987-1972","issn":["2987-1972"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/P4310315070","host_organization_name":"Tarumanagara University","host_organization_lineage":["https://openalex.org/P4310315070"],"host_organization_lineage_names":["Tarumanagara University"],"type":"journal"},"license":"cc-by-nc-sa","license_id":"https://openalex.org/licenses/cc-by-nc-sa","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"International Journal of Application on Economics and Business","raw_type":"journal-article"},"sustainable_development_goals":[{"score":0.48510000109672546,"display_name":"Decent work and economic growth","id":"https://metadata.un.org/sdg/8"}],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":true,"grobid_xml":true},"content_urls":{"pdf":"https://content.openalex.org/works/W4414948482.pdf","grobid_xml":"https://content.openalex.org/works/W4414948482.grobid-xml"},"referenced_works_count":0,"referenced_works":[],"related_works":["https://openalex.org/W7223067843","https://openalex.org/W7216952852","https://openalex.org/W4376108818","https://openalex.org/W4415118445","https://openalex.org/W4405990114","https://openalex.org/W4404356620","https://openalex.org/W4413734948","https://openalex.org/W7220205243","https://openalex.org/W7204798863","https://openalex.org/W4401927250"],"abstract_inverted_index":{"Indonesia":[0,22,96],"is":[1],"a":[2,55,64,209],"country":[3],"with":[4,159],"various":[5],"economic":[6,14],"and":[7,61,82],"business":[8],"activities.":[9],"With":[10],"the":[11,33,40,45,76,85,95,115,121,151,165,176],"development":[12,31],"of":[13,32,54,78,88,102,117,179],"activities,":[15],"companies":[16,92,119],"that":[17,188],"have":[18,23,190,198,208,218],"similar":[19],"sectors":[20],"in":[21,114,126,131,163,184],"emerged,":[24],"creating":[25],"competition":[26],"between":[27],"these":[28],"companies.":[29],"The":[30,146,181],"company":[34,180],"itself":[35],"can":[36],"be":[37],"assessed":[38],"from":[39,120],"corporation\u2019s":[41],"financial":[42,48,86,177,195,203,215,223],"performance,":[43],"if":[44],"corporation":[46,56],"has":[47],"performance.":[49,196,204,216,224],"Financial":[50],"performance":[51,87,178],"describes":[52],"ability":[53],"to":[57,74,104,156,174],"produces":[58],"profits":[59],"effectively":[60],"efficiently":[62],"over":[63,100],"set":[65],"period":[66,101],"by":[67],"leveraging":[68],"its":[69],"assets.":[70],"This":[71,167],"analysis":[72],"aimed":[73],"examine":[75],"effect":[77,193,201,213,221],"liquidity,":[79],"solvency,":[80],"activity,":[81],"profitability":[83],"on":[84,94,171,194,202,214,222],"non-cyclical":[89,122],"consumer":[90,123],"sector":[91,124],"listed":[93],"Stock":[97],"Exchange":[98],"(IDX)":[99],"2021":[103],"2023.":[105],"For":[106],"this":[107,132,185],"research,":[108],"purposive":[109],"sampling":[110],"was":[111,134,142,150],"used,":[112],"resulting":[113],"selection":[116],"120":[118],"registered":[125],"IDX.":[127],"Data":[128],"processing":[129],"applied":[130,149],"research":[133,168,186],"Eviews":[135],"12":[136],"software.":[137],"Hypothesis":[138],"testing":[139],"method":[140],"employed":[141],"multiple":[143,160],"linear":[144,161],"regression.":[145],"model":[147],"estimation":[148],"Fixed":[152],"Effects":[153],"Model":[154],"(FEM)":[155],"ensure":[157],"alignment":[158],"regression":[162],"analyzing":[164],"data.":[166],"utilizes":[169],"Return":[170],"Assets":[172],"(ROA)":[173],"assess":[175],"results":[182],"obtained":[183],"indicate":[187],"liquidity":[189],"significant":[191,199,219],"positive":[192,220],"Solvency":[197],"negative":[200,210],"Activity":[205],"do":[206],"not":[207],"dan":[211],"insignificant":[212],"Profitability":[217]},"counts_by_year":[{"year":2026,"cited_by_count":3}],"updated_date":"2026-11-10T11:39:43.021295","created_date":"2025-10-10T00:00:00"}